Danes seek fair competition

The number of Danish-owned vessels sailing under the Danish flag remained static last year. As at January 1, the figure stood at 593, still making it the third largest fleet in Europe, but the total deadweight rose from just under 7 million tonnes to 7.5 million tonnes.

As at the start of the year 86 newbuildings were on order for Danish owners, representing a total deadweight of around 2.7 million tonnes, valued at more than DKr20 billion ($3.18 billion). Owners have had a slightly better year at the hands of the tax man, as corporation tax was reduced from 34 to 32 per cent. The 30 per cent depreciation per year on capital purchases remains the same. Also government still allows 15 per cent depreciation on newbuildings up to 30 per cent over a two-year period.